Indian Market
• Indian equity markets were down 1.06%
• Nifty down by 62.90 pts and settle at
5851.20
• Sensex down by 202.37 pts at 19362.55
• Bank Nifty down by 195.70 pts at
11858.80
Global Market
• European markets were down with FTSE
down by 41.05 closed at 6469 ,CAC down
by 14.33 closed at 3825 and DAX down
by 13.25 closed at 7952.
• Dow future was down 11.00 closed at
14439.00
Market Analysis
• Key benchmark indices edged lower on weak global cues. The market breadth was weak. The barometer index, the 30-share S&P BSE Sensex, and the 50-unit CNX Nifty, both, settled at their lowest level in a week. The Sensex fell 202.37 points or 1.03%, off close to 149 points from the day’s high and up about 24 points from the day’s low. The BSE Mid-Cap index fell 1% while the BSE SmallCap index lostmore than 1%.
• The market edged lower in early trade on weak Asian stocks. The Sensex, and the 50-unit CNX Nifty, both, hit their lowest level in almost a week. Weakness continued on the bourses in morning trade. The Sensex hovered in negative terrain in mid-morning trade. Weakness continued on the bourses in early afternoon trade. The market extended intraday losses in afternoon trade. Weakness continued on the bourses in mid-afternoon trade. The market extended losses to hit fresh intraday low in late trade.
• BSE Sensex fell 202.37 points or 1.03% to 19,362.55
• CNX Nifty fell 62.90 points or 1.06% to 5,851.20
• Among the 30-share Sensex pack, 22 stocks fell while rest of them rose.
• The Finance Minister on 28 February 2013 said that the government will provide Rs 14000 crore for capital infusion in public sector banks in FY 2014.In Union Budget 2013-14 announced on 28 February 2013, the finance minister (FM) set a target of Rs 7 lakh crore for agricultural credit in FY 2014.
HEADLINE
• Economy to return to robust growth path
in 2-3 years: PM
• Tata Steel’s Canadian deal positive:
Deutsche
• Tata Motors slips on slower growth at
JLR
• NMDC may divest 50% in Chhattisgarh
plant, stock up 2%
STOCKS TO WATCH
• APOLLO TYRE
• RELIANCE POWER
• BATA INDIA
• HEXAWARE
SCRIPS IN BAN PERIOD
• HDIL
• PUNJLLYOD
FACTORS TO WATCH
NIFTY
• Nifty looks Bearish
• Strategy: Sell on rise
• Support: 5800
• Resistance: 5900
BANK NIFTY
• Bank Nifty looks Bearish
• Strategy: Sell on rise
• Support: 11800
• Resistance: 11940